Rise in the number of jobless lowest since July 2008
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The latest UK unemployment statistics have shown that although the figure has risen once again, the rate of increase has finally slowed.
Unemployment shot to 2.47 million in the three months to August, from the three months to May, with the jobless rate experiencing a growth of 88,000, rising from 7.6 to 7.9 per cent.
Nevertheless, the Office for National Statistics (ONS) said the rise in the number of unemployed was the lowest since July 2008.
Additionally, while the number of people claiming unemployment benefit is now the highest since 1997, the rise compared with the previous month was the least since May 2008.
Work and Pensions Secretary, Yvette Cooper, insisted that unemployment remains a serious problem, despite the fact that it isn’t as high today as many had feared.
“We must keep increasing support and advice to get people back into jobs.”
Investec chief economist Philip Shaw branded the figures as “more encouraging than we had hoped”.
“It does suggest that the pace of deterioration in the jobs market is easing quite sharply which is encouraging for the outlook for a sustainable recovery.”
The latest unemployment data comes a week before the ONS releases its first estimate for how the UK economy performed between July and September.
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